Sharing a Risky Cake
AbstractConsider an n-person Nash Bargaining problem where players bargain over the division of a cake whose size is stochastic. In such a game, the players are not only bargaining for more cake, but they are also sharing risk. This paper examines and provides the solution to this problem and highlights a few special cases.
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Bibliographic InfoPaper provided by University of Canterbury, Department of Economics and Finance in its series Working Papers in Economics with number 09/20.
Length: 11 pages
Date of creation: 02 Dec 2009
Date of revision:
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Risk sharing; uncertainty; Nash bargaining;
Other versions of this item:
- David Baqaee & Richard Watt, 2010. "Sharing a risky cake," Reserve Bank of New Zealand Discussion Paper Series DP2010/06, Reserve Bank of New Zealand.
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
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- Grant Scobie & Trinh Le & John Gibson, 2007. "Housing in the Household Portfolio and Implications for Retirement Saving: Some Initial Finding from SOFIE," Treasury Working Paper Series 07/04, New Zealand Treasury.
- Emmanuel De Veirman & Ashley Dunstan, 2008. "How do Housing Wealth, Financial Wealth and Consumption Interact? Evidence from New Zealand," Reserve Bank of New Zealand Discussion Paper Series DP2008/05, Reserve Bank of New Zealand.
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